House edge: theory and application in games of chance
Panetta, Edoardo Giovanni (A.A. 2024/2025) House edge: theory and application in games of chance. Tesi di Laurea in Gambling: probability and decision, Luiss Guido Carli, relatore Hlafo Alfie Mimun, pp. 71. [Bachelor's Degree Thesis]
Full text for this thesis not available from the repository.
Abstract/Index
Theoretical background. Basics of probability in gambling. Expected value and risk measures. Law of large numbers and long-term behavior. Central limit theorem and volatility. Defining the house advantage. Formal definitions: H0(B,X) and H(B,X). Compound and conditional wagers. Break-even probabilities and fair odds. Optimal betting strategies and expected loss minimization. Application across game types and human factors. Pure chance games: roulette, craps, keno. Skill-influenced games: poker, blackjack and sports betting. Human biases and gambler’s fallacy. Behavioral economics and the illusion of control.
References
Bibliografia: pp. 59-60.
| Thesis Type: | Bachelor's Degree Thesis |
|---|---|
| Institution: | Luiss Guido Carli |
| Degree Program: | Bachelor's Degree Programs > Bachelor's Degree Program in Economics and Business, English language (L-33) |
| Chair: | Gambling: probability and decision |
| Thesis Supervisor: | Mimun, Hlafo Alfie |
| Academic Year: | 2024/2025 |
| Session: | Autumn |
| Deposited by: | Alessandro Perfetti |
| Date Deposited: | 26 May 2026 10:27 |
| Last Modified: | 26 May 2026 10:27 |
| URI: | https://tesi.luiss.it/id/eprint/45906 |
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